Since the beginning of this year, the State Committee for Securities registered the issue prospectus of three banks totaling 90 million manat. Of these, 70 million manat issued Capital Bank, and 10 million manat respectively AFB Bank and Gunay Bank.
For comparison, during the same period last year state registration regarded the issue of shares of five banks in the amount of 72.3 million manat.
According to calculations by Turan, in less than three months at BSE there were placed shares totaling 206.7 million manat. Of these funds, 70 million manat was emission by Capital Bank, 110.9 million - by the International Bank of Azerbaijan, 10 million - by Atrabank (total emission of 40 million manat), 3.6 million - by Gunay Bank, and 12.2 million - by Amrahbank (AZN 20 million) .
During the same period last year shares of 24.5 million manat were placed on BSE. Net top banks' (Capital Bank and IBA) capital jumped over AZN 100 million long ago and the difference compared with the previous year is not significant.
At the end of January 2014 the total aggregate capital of domestic banks amounted to 3,460.8 million manat. Aggregate capital of two of the 43 banks in the country was below the level of AZN 5 million, despite the fact that the minimum size requirement of total capital since 2007 is 10 million manat, and in 2015 will grow to 50 million manat. -15B-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review